Project risk management in the mining industry is necessary to identify, analyze and reduce uncertainty. The engineering features of mining enterprises, by their nature, require improved risk management tools. This article proves the relevance of creating a simulation model of the production process to reduce uncertainty when making investment decisions. The purpose of the study is to develop an algorithm for deciding on the economic feasibility of creating a simulation experiment. At the same time, the features and patterns of the cases for which the simulation experiment was carried out were studied. Criteria for feasibility assessment of the model introduction based on a qualitative parameters became the central idea for algorithm. The relevance of the formulated algorithm was verified by creating a simulation model of a potassium salt deposit with subsequent optimization of the production process parameters. According to the results of the experiment, the damage from the occurrence of a risk situations was estimated as a decrease in conveyor productivity by 32.6%. The proposed methods made it possible to minimize this risk of stops in the conveyor network and assess the lack of income due to the risk occurrences.

Rapidly changing business environments and fierce competition are making it increasingly difficult for modern companies to maintain competitive advantage and accomplish business longevity. This study can fill the research gap in mission research and longevity research, and provides implications on what form and content of mission should be selected when determining the direction of a company’s corporate strategy. Although a company’s mission is a communication tool that represents the company’s strategic priorities and unique values, it has rarely been considered an important factor in business longevity. This study conducts a content analysis of the mission statements of 43 companies in the Henokiens Association to clarify the linkage between a company’s mission and business longevity and the configurations of long-lived firms’ missions. Our results show most long-lived firms have clear missions and perceptions of familism expansion. The firms’ past, present, and future additions to their concern for products, business growth, unique philosophy, and stakeholders are highlighted in their mission statements. Therefore, the main theoretical contribution of focusing on the corporate mission as a factor of business longevity in this study is not only a new approach to the longevity factor, but also the discovery of new values of the mission in strategic management research. The practical contribution of this study is that it reveals that companies seeking long-term competitive advantage in the market need to design, possess, and share a high-quality mission from a long-term perspective and instill the ideology of extended familyism. It can also provide hints about strategic priorities for small, family-run businesses facing threats to their survival.